Global PET Packaging Market Report and Forecast 2023-2028

According to this report, the global PET packaging market reached a value of approximately USD 67.84 billion in 2022. Aided by the increasing demand for sustainable packaging solutions and the growing applications of PET packaging in various sectors, the market is projected to further grow at a CAGR of 4.5% between 2023 and 2028 to reach a value of USD 88.35 billion by 2028.

Polyethylene Terephthalate (PET) is a type of plastic resin widely used in packaging due to its lightweight, high strength, and easy-to-shape properties. PET packaging plays a significant role in the food and beverage, pharmaceutical, and personal care industries, with common use in water bottles, food containers, pharmaceutical packaging, and cosmetic products, aiding the PET packaging market growth. Beyond its functionality, PET packaging offers excellent barrier properties against moisture and oxygen, making it a valuable resource in preserving product quality.

The increasing consumer preference for sustainable packaging solutions is driving the global PET packaging market growth. With the growing awareness of environmental issues associated with plastic pollution, there has been a significant shift towards sustainable and recyclable packaging options, leading to a surge in demand for PET-based packaging. Additionally, the expanding e-commerce sector, coupled with the rising need for durable and lightweight packaging, has further contributed to the increasing popularity of PET packaging.

The diverse applications of PET packaging in various industries also play a significant role in propelling the PET packaging market development. In the food and beverage industry, PET packaging is favoured for its exceptional clarity, product visibility, and resilience, making it ideal for packaging beverages, ready meals, and confectionery. The pharmaceutical industry utilises PET packaging for its superior barrier properties, providing extended shelf life for medicines and healthcare products. Furthermore, in the cosmetics industry, PET's versatility and aesthetics make it a popular choice for packaging solutions, from beauty products to personal care items, thus increasing the PET packaging market demand.

Moreover, the growing focus on circular economy principles in the packaging industry has led to increased emphasis on PET packaging, known for its high recyclability. With the rise of regulations encouraging recycling and the increasing consumer preference for eco-friendly products, PET packaging has emerged as a sustainable solution, thereby fuelling the PET packaging market expansion.

Market Segmentation

The market can be divided based on form, packaging, filling technology, end user, and region.

Market Breakup by Form

• Amorphous PET
• Crystalline PET

Market Breakup by Packaging

• Bottles and Jars
• Bags and Pouches
• Trays
• Lids/Caps and Closures
• Others

Market Breakup by Filling Technology

• Hot Fill
• Cold Fill
• Aseptic Fill
• Others

Market Breakup by End User

• Beverages Industry
• Bottled Water
• Carbonated Soft Drinks
• Milk and Dairy Products
• Juices
• Beer
• Others
• Household Goods Sector
• Food Industry
• Pharmaceutical Industry
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

This report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global PET packaging companies. Some of the major key players explored in this report are as follows:

• Amcor Plc
• Berry Global Inc.
• Graham Packaging Company
• RPC Group
• Resilux NV
• Plastipak Packaging, Inc.
• Others

About the Analyst

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The analyst always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.